Truvestments Capital LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,674 shares of the semiconductor manufacturer's stock after acquiring an additional 1,402 shares during the quarter. Broadcom makes up approximately 3.0% of Truvestments Capital LLC's portfolio, making the stock its 4th biggest position. Truvestments Capital LLC's holdings in Broadcom were worth $11,748,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of AVGO. Swedbank AB lifted its holdings in Broadcom by 858.7% during the 3rd quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer's stock worth $3,168,798,000 after buying an additional 16,453,718 shares during the period. Howard Capital Management Group LLC lifted its holdings in Broadcom by 2,219.8% during the 3rd quarter. Howard Capital Management Group LLC now owns 3,039 shares of the semiconductor manufacturer's stock worth $524,000 after buying an additional 2,908 shares during the period. Pettinga Financial Advisors LLC lifted its holdings in Broadcom by 896.9% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,911 shares of the semiconductor manufacturer's stock worth $502,000 after buying an additional 2,619 shares during the period. Impax Asset Management Group plc lifted its holdings in Broadcom by 884.6% during the 3rd quarter. Impax Asset Management Group plc now owns 119,529 shares of the semiconductor manufacturer's stock worth $20,619,000 after buying an additional 107,389 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Broadcom by 1,019.4% during the 3rd quarter. Principal Financial Group Inc. now owns 7,182,409 shares of the semiconductor manufacturer's stock worth $1,238,966,000 after buying an additional 6,540,800 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have commented on AVGO. Citigroup lifted their target price on Broadcom from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Mizuho lowered their price objective on Broadcom from $260.00 to $250.00 and set an "outperform" rating for the company in a research report on Friday, March 7th. Barclays lifted their price objective on Broadcom from $205.00 to $260.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Jefferies Financial Group lifted their price objective on Broadcom from $205.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, December 13th. Finally, Piper Sandler lifted their price objective on Broadcom from $200.00 to $250.00 and gave the stock an "overweight" rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $231.48.
Check Out Our Latest Research Report on AVGO
Insider Activity at Broadcom
In other Broadcom news, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the sale, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. This represents a 5.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Diane M. Bryant sold 15,000 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the sale, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 191,278 shares of company stock worth $44,964,800. Insiders own 2.00% of the company's stock.
Broadcom Price Performance
Shares of NASDAQ AVGO opened at $190.09 on Wednesday. Broadcom Inc. has a twelve month low of $119.76 and a twelve month high of $251.88. The stock's 50 day moving average price is $220.42 and its 200-day moving average price is $193.44. The company has a market capitalization of $893.79 billion, a PE ratio of 155.05, a PEG ratio of 2.29 and a beta of 1.01. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.39 by $0.03. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the business earned $0.98 EPS. The company's revenue was up 51.2% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.
Broadcom Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, March 20th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $2.36 annualized dividend and a yield of 1.24%. Broadcom's payout ratio is 113.46%.
Broadcom Company Profile
(
Free Report)
Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.
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